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How luxury could bring up to £54bn into UK plc

The British luxury market is protected to be worth up to £54bn in the next four years, according to research by Frontier Economics commissioned by Walpole, the industry alliance which has more than 170 brand members. The luxury market contributed £32.2bn in 2013, valuing the sector at 2.2% worth of the UK's GDP, according to the report. Around 78% of UK luxury products are destined for export markets. The UK luxury sector employs 113,000 people, and this is forecast to grow to between 158,000 and 177,000 by 2019.

 

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